Free Series 24 Practice Test 2024 – 290 FINRA Test Qs

Welcome to our website, where you can readily access the Series 24 practice exam through a conveniently located button at the top. Right below, you’ll find an extensive practice test meticulously crafted to delve deeply into the exam material. Engaging with these tests not only demonstrates your capabilities but also helps pinpoint areas that require improvement, refining your study strategy.

For an even more tailored preparation, particularly in areas that need extra attention, we have carefully designed specialized quizzes. These quizzes focus on specific aspects of the Series 24 exam, providing a targeted and effective way to prepare.

Series 24 Domain Exams

The Series 24 exam, officially known as the General Securities Principal Qualification Examination, is administered by the Financial Industry Regulatory Authority (FINRA). It’s designed to assess the competency of entry-level principals to perform their job at a general securities broker-dealer. 

The exam is divided into five major job functions, each covering specific supervisory responsibilities:

Domain 1: Supervision of Registration of the Broker-Dealer and Personnel Management Activities

• Number of questions: 9
• Focus: This section focuses on the registration and management of broker-dealer personnel and their compliance with regulatory requirements.

Domain 2: Supervision of General Broker-Dealer Activities

• Number of questions: 45
• Focus: This part deals with the oversight of broker-dealer operations, ensuring they adhere to the laws and regulations.

Domain 3: Supervision of Retail and Institutional Customer-Related Activities

• Number of questions: 32
• Focus: This domain covers the supervisory responsibilities related to both retail and institutional client interactions and compliance.

Domain 4: Supervision of Trading and Market Making Activities

• Number of questions: 32
• Focus: This section focuses on the supervision of trading and market-making operations, ensuring they comply with trading regulations.

Domain 5: Supervision of Investment Banking and Research

• Number of questions: 32
• Focus: This final section  involves oversight of investment banking and research activities, ensuring regulatory and ethical standards are met.

Exam Section	# of Questions	Focus
Supervision of Registration of Broker-Dealer & Personnel Management Activities	9	This section focuses on the registration and management of broker-dealer personnel and their compliance with regulatory requirements.
Supervision of General Broker-Dealer Activities	45	This part deals with the oversight of broker-dealer operations, ensuring they adhere to the laws and regulations.
Supervision of Retail & Institutional Customer-Related Activities	32	This domain covers the supervisory responsibilities related to both retail and institutional client interactions and compliance.
Supervision of Trading and Market Making Activities	32	This section focuses on the supervision of trading and market-making operations, ensuring they comply with trading regulations.
Supervision of Investment Banking and Research	32	This final section  involves oversight of investment banking and research activities, ensuring regulatory and ethical standards are met.

Additional Details:

• 10 pretest questions are also included but are not scored.
• Total number of questions during the exam session: 160 (150 scored + 10 unscored).
• Candidates must score at least 70% to pass.
• This translates to correctly answering at least 105 out of the 150 scored questions.

Series 24 Exam Breakdown

The Series 24 exam, formally known as the General Securities Principal Qualification Exam, is administered by the Financial Industry Regulatory Authority (FINRA). It’s designed to evaluate the competency of entry-level general securities principals who are responsible for supervising and regulating a broker-dealer’s activities, including underwriting, trading, and market making.

Exam Structure and Content

The exam comprises 150 multiple-choice questions, which are divided into five sections. These cover various supervisory activities:

1. Supervision of Registration of the Broker-Dealer and Personnel Management Activities
2. Supervision of General Broker-Dealer Activities
3. Supervision of Retail and Institutional Customer-Related Activities
4. Supervision of Trading and Market Making Activities
5. Supervision of Investment Banking and Research

Candidates are allowed 3 hours and 45 minutes to complete the exam and must score at least 70% to pass, which translates to correctly answering a minimum of 105 out of 150 scored questions. The exam also includes 10 pre-test questions that are not scored​.

Eligibility Requirements

To sit for the Series 24 exam, candidates must be associated with and sponsored by a FINRA member firm or other appropriate self-regulatory organization (SRO). Additionally, they need to have passed the Securities Industry Essentials (SIE) Exam and a representative-level qualification exam, like the Series 7, or the Supervisory Analysts Exam​.

Registration and Costs

The exam fee is $120. Candidates can register through their sponsoring firm, which will file a Uniform Application for Securities Industry Registration/Transfer (Form U4) in the Central Registration Depository (CRD)​​.

Study and Preparation

Effective preparation for the Series 24 exam involves multiple strategies, including reading and understanding study guides, taking chapter quizzes, and full practice exams using an exam simulator. Handwritten notes, flashcards, and explaining concepts to others are recommended methods to reinforce learning and ensure a deep understanding of the material​​.

How to Become Series 24 Certified

To become Series 24 certified, which qualifies you as a General Securities Principal, you must complete a series of steps from registration through to passing the exam. Here’s a breakdown of the process:

1. Eligibility: Before you can register for the Series 24 exam, you must be sponsored by a FINRA member firm or another self-regulatory organization member firm. This sponsorship is essential because it verifies your association with a regulated firm that can vouch for your qualifications and intentions​​.
2. Registration: The registration process for the Series 24 exam involves applying through the Financial Industry Regulatory Authority (FINRA). You will need to use the FINRA registration systems, such as the Central Registration Depository (CRD) or the Financial Professional Gateway (FinPro)​.
3. Preparation: The Series 24 exam is extensive, covering five major job functions of a general securities principal with 150 multiple-choice questions to be completed in 3 hours and 45 minutes. To pass, you must score at least 70%​​. Preparing for this exam typically involves reviewing the Series 24 Content Outline provided by FINRA and possibly taking preparatory courses or using study materials from accredited sources.
4. Scheduling the Exam: Once registered, you can schedule your exam via Prometric, an approved administrator for FINRA exams. You can choose to take the exam online or at a physical testing center​​.
5. Taking the Exam: On the day of your exam, ensure you have all necessary identification and arrive on time. The exam tests your knowledge on supervision of broker-dealer operations, trading, underwriting, and other relevant activities.
6. Results and Follow-Up: After completing the exam, you will receive your results. If you pass, you’ll be recognized as a General Securities Principal, capable of overseeing a range of securities activities at your firm.

Our Experience Teaching Series 24 Candidates To Pass The Exam

At Career Employer, creating our Series 24 practice tests has been an extraordinary journey filled with notable achievements and formidable challenges. The project was influenced by the wide range of subjects covered in the exam, aimed specifically at addressing the unique needs of our learners.

We have meticulously planned every facet of our strategy to guarantee that each learner is thoroughly equipped to succeed in the exam. Our commitment to delivering a comprehensive educational experience is reflected in the breadth and depth of our practice materials, underscoring our dedication to our students’ success.

Teaching the Series 24 certification, which focuses on qualifying candidates to supervise or manage branch activities at a broker-dealer, presents unique challenges and rewards from a lecturer’s perspective. Here’s a detailed look at how a lecturer might approach it:

Understanding the Curriculum

The Series 24 exam covers topics like supervision of investment banking, trading, brokerage office operations, and compliance. A lecturer must be well-versed in these areas and stay updated on FINRA regulations and securities laws.

Course Preparation

Preparation involves organizing the curriculum into manageable segments. This might include developing comprehensive lectures, interactive discussions, and case studies that reflect real-world scenarios to help students grasp complex regulatory concepts.

Resource Utilization

Lecturers often rely on a variety of resources to enhance learning:

1. Textbooks and FINRA Manuals: Essential for foundational knowledge.
2. Online Platforms: Services like Kaplan Financial and Securities Training Corporation provide specialized training materials and practice exams.
3. Webinars and Workshops: These can help clarify difficult topics and offer insights into practical application.
4. Discussion Forums: Places like Reddit or specialized finance forums where both instructors and students can discuss challenging topics and share learning tips.

Teaching Methods

Instructors may use a blend of teaching methods:

• Lectures: To cover theory and regulations.
• Group Discussions: To encourage critical thinking and problem-solving.
• Mock Exams: Regular testing is crucial to prepare students for the format and time constraints of the actual exam.

Student Engagement and Support

Keeping students engaged is crucial. This might involve interactive sessions, real-time quizzes, and one-on-one tutoring sessions. Continuous assessment helps track progress and address areas where students may struggle.

Challenges

One of the main challenges is the wide scope of material that students need to understand and apply in a regulatory framework. The lecturer must be adept at breaking down complex information into understandable segments and using varied instructional strategies to cater to different learning styles.

Continuous Learning

Finally, lecturers themselves must engage in continuous professional development to keep abreast of regulatory changes and new teaching methodologies. This ensures that the instruction remains relevant and effective.

By balancing these elements, we effectively prepare candidates to not only pass the Series 24 exam but also to excel in their supervisory roles within the financial industry.

At Career Employer, our Series 24 practice tests represent the pinnacle of knowledge and experience accumulated by our team of seasoned general securities principals. These experts, who possess an in-depth understanding of the Series 24 exam’s complexities, have meticulously crafted these resources. Their comprehensive expertise has successfully guided over 1,000 general securities principals to achieve their Series 24 certification.

Our team consists of seasoned professionals, each boasting at least ten years of dedicated experience in securities. This extensive background ensures that our practice materials are not only developed by experts but are also highly effective in preparing candidates for success in their certification pursuits.

Effective Study Strategies and Methods

When preparing for the Series 24 exam, employing effective study strategies and utilizing the best resources are key to success. Here’s a comprehensive approach based on popular resources and expert recommendations:

1. Comprehensive Study Guides and Practice Exams: Engaging with comprehensive materials such as those offered by Solomon Exam Prep and Knopman Marks can significantly boost your preparation. Solomon suggests taking full practice exams and striving to score at least 80% to gauge readiness. Their approach emphasizes the importance of handwritten notes, custom flashcards, and teaching the material to others as methods to enhance understanding and retention​​.
2. Interactive and On-Demand Learning: Knopman Marks offers live Q&A sessions and a curriculum that covers the full scope of the Series 24 exam. This is supplemented by interactive tools like flashcards and a spiral-bound workbook to facilitate note-taking and revision​.
3. Tailored Study Plans: Pass Perfect provides a structured approach that adapts to your learning pace, focusing on areas where you need the most help and providing a vast bank of practice questions to ensure familiarity with the exam format and types of questions​.
4. Personalized Support: Both Solomon and Knopman Marks highlight the availability of expert assistance. Solomon has a feature called ‘Ask the Professor’ where you can get your doubts cleared, while Knopman Marks provides access to experienced instructors and personalized training plans​.
5. Engagement with Core Topics and Simulation: Engaging deeply with core topics and utilizing simulation exams are critical. Both resources recommend focusing on understanding and applying FINRA rules through varied question styles and scenarios that reflect the actual exam’s challenges.
6. Physical and Mental Preparation: Regular breaks and adequate sleep are vital as they help consolidate learning and maintain mental sharpness. Engaging in light exercise and ensuring a balanced diet during your study period can also improve performance.

Cost

Fee Type	Cost	Details
Exam Fee	$120	Fee to sit for the exam
Study Materials and Training	Varies	Cost depends on provider and material depth
Post-Exam Fees	Varies	Includes maintenance, continuing education, administrative fees

The Series 24 exam, which is the General Securities Principal qualification exam, has several associated costs including exam fees, study materials, and potentially other fees related to the examination process.

1. Exam Fee: The fee to take the Series 24 exam is $120. This is the fee charged to sit for the exam itself.
2. Study Materials and Training: Costs for study materials and courses can vary widely depending on the provider and the comprehensiveness of the materials. Typically, self-study materials can range from USD 100 to over USD 300. More comprehensive training courses, including classes and more in-depth materials, can cost several hundred dollars or more.
3. Post-Exam Fees: These might include fees for maintaining your certification, continuing education, or other administrative fees. These fees can vary depending on the specific requirements set by regulatory or certifying bodies.

It’s important to consider that these costs can vary based on the provider, the type of materials or courses you choose, and any additional services or resources you might need. Also, rescheduling or retaking the exam involves additional fees which should be factored into the total cost if you need to take the exam more than once.

Reliable Study Materials and Resources

To prepare for the Series 24 certification exam effectively, you have several great resources at your disposal:

1. Kaplan Financial Education offers comprehensive exam prep packages, including live classes, on-demand videos, and an extensive question bank. Their study materials are designed to suit various learning styles and schedules. 
2. FINRA.org is an essential resource as it provides the official content outline for the Series 24 exam, detailing the job functions of a general securities principal and the depth of knowledge required. This outline is a must-read to understand the framework of your study plan. 
3. Mometrix Test Preparation offers free exam questions and a host of study tools, including flashcards and an e-library. Their resources can be particularly helpful for reinforcing knowledge through active recall and practice. 
4. Knopman Marks provides both live classes and on-demand lectures with a high pass rate. They focus on the most heavily tested concepts on the exam and offer practical tips for mastering complex topics. Their approach to preparation focuses on ensuring candidates understand how to apply knowledge effectively under exam conditions.
5. Securities Training Corporation (STC) offers a variety of study tools, including on-demand lectures, flashcards, and live virtual classes. They also provide “Green Light Exams” to help gauge readiness for the actual exam. Their courses are designed to cover every aspect of the Series 24 exam comprehensively. 
6. Achievable: This online platform offers an interactive study program for the Series 24 exam that includes a personalized study plan, practice questions, and a comprehensive review of exam topics. Their approach focuses on learning the material through repetition and practice, which can be especially beneficial for retaining complex information. 
7. ExamFX: Known for its interactive learning methods, ExamFX provides study materials for the Series 24 exam, including simulated exams, interactive learning portals, and detailed tracking of your progress. They emphasize understanding concepts thoroughly to ensure a higher chance of passing the exam.
8. YouTube: Various educational channels on YouTube offer free tutorials and video lessons specifically aimed at Series 24 exam preparation. Channels like “The Securities Guys” or “Brandon Rith Finra Tutor” can be particularly helpful as they cover key topics and often provide insights into effective strategies for tackling complex questions.
9. Series 7 Study Guide: While primarily focused on the Series 7 exam, this resource offers valuable overlap content that is relevant for the Series 24 exam, especially in areas related to general securities principles. They provide detailed study guides and practice questions that could complement your Series 24 studies. 

These resources can provide a diversified approach to your exam preparation, mixing self-study with interactive and multimedia learning options to enhance understanding and retention of the material.

Tips for Exam Day

To excel on the Series 24 exam, you’ll want to blend diligent preparation with strategic exam day practices. 

Here’s a comprehensive guide to help you succeed:

Before the Exam:

1. Study Preparation: Begin your preparation with a thorough review of the Series 24 content outlines and focus on heavily tested topics like FINRA rules, investment banking, equity trading, and general brokerage activities. Utilize practice exams extensively; aiming to score at least 80% on several full-length tests can be a strong indicator of readiness​.
2. Study Techniques: Employ active learning techniques such as taking handwritten notes, making your own flashcards, and teaching the material to others or even out loud to yourself. This approach helps in reinforcing the content in your memory​​.

On Exam Day:

1. Physical and Mental Preparation: Ensure you get a good night’s sleep before the exam day. Engage in light exercise to calm nerves and avoid heavy meals that might make you feel sluggish. Incorporate relaxation techniques like deep breathing or meditation to maintain calmness and focus.
2. During the Exam: Read each question carefully, especially on a diverse and jarring exam like the Series 24. It’s crucial to manage your time effectively, slowing down to ensure that you understand each question before answering. Expect to feel uncertain during the exam; this is normal and does not necessarily reflect on your performance​.
3. Strategic Test-Taking: Utilize strategies such as reading questions with a pen in hand, underlining key terms, and being systematic about the order in which you answer questions. If essay-style answers are required, spend adequate time planning your responses to improve clarity and depth​​.

Remember, the key to passing the Series 24 is not just hard study but also strategic preparation and maintaining a positive mindset.

Post-Exam: Next Steps

After taking the Series 24 exam, it’s essential to engage in post-exam strategies that help leverage your effort and prepare for future opportunities. 

Here are some steps you might consider:

1. Review Your Exam Performance: Analyzing your exam performance is crucial to understanding your strengths and weaknesses. Some test providers offer detailed feedback on your performance, which can help you identify areas for improvement.
2. Engage in Forums and Online Communities: Participating in forums and online communities can provide insights and tips from other test-takers and professionals. Platforms like Mometrix Test Preparation offer forums, study guides, and other resources that can be extremely valuable.
3. Continuous Learning and Skill Enhancement: Regardless of the exam outcome, it’s beneficial to continue improving your skills relevant to your career goals. Consider enrolling in further courses or certifications that build on the knowledge you’ve gained.
4. Utilize Available Resources: Utilizing resources like study groups, online courses, and educational websites can further enhance your understanding and preparation. For example, websites such as Mometrix and Achievable offer extensive resources for exam preparation.
5. Plan Your Next Steps: Based on your results and career goals, plan your next academic or professional steps. This might include preparing for additional exams, applying for new roles, or enhancing your current job skills.
6. Stay Updated: Keep yourself updated with any changes or updates related to the Series 24 exam or related professional standards. This can be crucial for staying relevant in your field.
7. Networking: Continue to build your professional network. Connecting with others in the industry can provide opportunities and insights that are not available through formal education channels.

References

1. FINRA. “Series 24.” Financial Industry Regulatory Authority, https://www.finra.org/registration-exams-ce/qualification-exams/series24.
2. Wall Street Mojo. “Series 24.” https://www.wallstreetmojo.com/series-24/.
3. Finance Strategists. “Series 24.” https://www.financestrategists.com/financial-advisor/advisor-types/series-24/.
4. Solomon Exam Prep. “How to Pass the FINRA Series 24 Exam.” https://solomonexamprep.com/news/study-tips/how-to-pass-the-finra-series-24-exam/.
5. Knopman Marks. “Series 24 Exam Prep.” https://www.knopman.com/series-24-exam-prep.
6. Knopman Marks. “How to Pass the Series 24.” 14 Dec. 2016, https://knopman.com/blog/2016/12/14/how-to-pass-the-series-24/.
7. Pass Perfect. “Series 24.” https://www.passperfect.com/series-24.
8. Solomon Exam Prep. https://www.solomonexamprep.com/.
9. Knopman Marks. https://www.knopman.com/.
10. Pass Perfect. https://www.passperfect.com/.
11. Prometric. “FINRA.” https://www.prometric.com/test-takers/search/1finra.
12. Kaplan Financial. https://www.kaplanfinancial.com/.
13. FINRA. https://FINRA.org.
14. Mometrix. “Series 24 Exam.” https://www.mometrix.com/academy/series-24-exam/.
15. Knopman Marks. “Series 24 Exam Prep.” https://knopman.com/series-24-exam-prep.
16. STC USA. “Series 24.” https://www.stcusa.com/securities/licensing/us/series-24/.
17. Achievable. “FINRA Series 24.” https://app.achievable.me/study/achievable/partner-courses/finra-series-24.
18. ExamFX. “Series 24.” https://www.examfx.com/securities-prelicensing-training/series-24.
19. Series 7 Study Guide. https://www.series7studyguide.com/.
20. YouTube. “How to Pass the Series 24 Exam.” https://www.youtube.com/watch?v=ri8t-sPRksU.
21. Test Ninjas. “Tips for Test Day.” https://test-ninjas.com/tips-for-test-day.
22. Reddit. “Who to Use for Series 24? Need Help.” 14 Dec. 2022, https://www.reddit.com/r/Series24/comments/zh9uqu/who_to_use_for_series_24_need_help/.
23. Exam Study Expert. “Test Taking Tips.” https://examstudyexpert.com/test-taking-tips/.
24. Achievable. https://achievable.me/.
25. Reddit. “Series 24 Perspective.” 1 Jul. 2022, https://www.reddit.com/r/Series24/comments/vosao9/series_24_perspective/.
26. YouTube. “Series 24 Exam Tips.” https://www.youtube.com/watch?v=qkda_Bcjrqw.